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ICICI Prudential Life Insurance Co. Ltd. ( (IN:ICICIPRULI) ) just unveiled an announcement.
ICICI Prudential Life Insurance Company Limited has announced that ICRA Limited has reaffirmed its credit rating at ICRA AAA/Stable for its non-convertible debentures, indicating a stable outlook. This reaffirmation underscores the company’s strong market position, supported by its strategic importance to ICICI Bank and a healthy value of new business growth. Despite a slight decline in profit margins, the company continues to show robust profitability and solvency, with expectations of continued support from ICICI Bank if needed.
More about ICICI Prudential Life Insurance Co. Ltd.
ICICI Prudential Life Insurance Company Limited is a prominent private life insurer in India, offering a diversified range of life insurance products. It is backed by strong promoters, ICICI Bank Limited and Prudential Corporation Holdings Limited, holding 51% and 22% stakes, respectively. The company benefits from a robust distribution network and maintains a solid market position supported by healthy internal accruals and a strong solvency ratio.
Average Trading Volume: 35,865
Technical Sentiment Signal: Hold
Current Market Cap: 873B INR
Find detailed analytics on ICICIPRULI stock on TipRanks’ Stock Analysis page.